Galaxy Digital (GLXY) Stock Sinks 13% as Data Center Growth Fails to Offset $85 Million Loss
TLDR
- Galaxy Digital shares sank 13.46% as its $85 million quarterly loss hit GLXY.
- Galaxy reported an $85 million net loss as weaker crypto prices hurt earnings.
- Helios produced new data center revenue, but crypto losses outweighed the gains.
- Galaxy expects Helios Phase I to generate about $80 million in quarterly revenue.
- Texas expansion lifted Galaxy’s potential data center power pipeline above 5.7 GW.
Galaxy Digital stock plunged 13.46% to $19.16 after two sharp morning sell-offs. The company reported an $85 million net loss as lower digital asset prices hurt treasury positions. Galaxy combines digital asset services with data centers, which provided a new revenue source during the quarter.
Galaxy Digital posts narrower quarterly loss
Galaxy reported an $85 million second-quarter net loss, compared with a $216 million loss during the previous quarter. Adjusted EBITDA reached negative $77 million, while adjusted gross profit improved to $43 million. The company also reported diluted and adjusted earnings per share of negative $0.09.
… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
